Profit opportunities arise from cross rate differences between financial centres. On 9th September 2020, you noticed the following FX rates of various banks: Amato Bank quotes Japanese yen per Australian dollar (Yen/AS) Sanio Bank quotes Japanese yen per SFr (Yen/SFr) XYZ Bank quotes Swiss franc (SFr) per Australian dollar (SFr/A$) 82.00 97.00 1.15 D) Is there any arbitrage opportunity? Calculate the relevant cross rate that may lead to arbitrage profit ii) Using a hypothetical amount of A$1,000,000 to invest, show how an investor can make arbitrage profit. [3 + 3 = 6 marks]